The Antigua International Business Companies Act was passed in 1982 with many amendments over the years which have helped make the Antigua Company more modern and competitive. An Antigua company can be incorporated by persons of any nationality but a registered agent must be used for company registration as stipulated by the Antigua Companies Law. A registered agent is a person who has been approved and licensed by the government of Antigua to provide offshore services which includes incorporating Antigua companies. Registered agents in the tax haven of Antigua are mainly lawyers, accountants and trust companies. Antigua International Business Companies are supervised and regulated by the Antigua Financial Services Regulatory Commission (AFSR).
The Antigua Company once incorporated cannot do business within the jurisdiction of Antigua or with residents but can do its business operations anywhere in the world. Antigua International Business Companies are prohibited from carrying out business operations within the Caribbean Community (CARICOM) or do business using the currency used by CARICOM. The Antigua Companies Law gives an Antigua International Business a fifty (50) year tax exemption from local taxes. The offshore jurisdiction has no capital gains tax, estate tax and inheritance tax in place. There is no exchange controls in place in the offshore tax haven of Antigua.
For the formation of an Antiguan Company the registered agent must on behalf of the persons submit the relevant information to the Registrar of Companies in the tax haven of Antigua. The Information to be filed is the Articles of Formation which must include the following: the name of the Antigua Company, the name and address of the registered agent, the number of shares to be issued, the types of shares the Antigua company intends to issue, the name and number of Company shareholders, the names and numbers of company directors and the type of business to be carried out by the Antigua Company. Antigua Companies may also states if the right to transfer shares from one shareholder to another is permitted within the Articles of Formation.
An Antigua International Business Company can be formed using one (1) director and one shareholder. It takes about one working day to complete the incorporation of Antigua Companies. Persons wishing to incorporate an Antigua company must take into account the many benefits that this offshore company has to offer; asset protection, confidentiality and the amazing tax exemptions. Assets placed in Antigua companies are protected by the legislation of the jurisdiction and cannot be touched by foreign legislation and court rulings. The names of the beneficial owners of Antigua Companies along with the names of directors and any information concerning these individuals are not made public in tax haven Antigua. The Antigua International Business Companies Act prevents the disclosure of information regarding the Antigua companies or its beneficial owners.
An Antigua company incorporated under the revised International Business Companies Act is not obligated to files its annual financial audit with the tax authorities in the tax haven. Antigua Companies can keep their financial records at any location the shareholders see fit. There is no need for a compulsory annual general meeting for an Antigua International Business Companies meetings can be called at the convenience of the Antigua company shareholders.
Antigua Companies are sound investment tools which are very easy to maintain.